TO: Mayor and City Council
THROUGH: Steve Powers, City Manager
FROM: Kristin Retherford, Urban Development Director
SUBJECT:
title
Adopting the FY 2021-22 budget and setting the parking tax for the Downtown Parking District
Ward(s): 1
Councilor(s): Stapleton
Neighborhood(s): CANDO
Result Area(s): Good Governance
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SUMMARY:
summary
The FY 2021-22 operating budget for the Downtown Parking Fund is $1,299,380, which includes rates of $159.28 per space and a $442.16 minimum tax rate.
Salem Revised Code 7.110 requires that by June 30 of each year City Council adopt, by resolution, a budget for the Downtown Parking District (District) and set the tax for each fiscal year. Resolution No. 2021-29 has a retroactive effective date of July 1 which is the start of the 2021-22 fiscal year. The District was established in 1976 to provide funding for economic promotion and public parking within the downtown core.
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ISSUE:
Shall City Council adopt Resolution No. 2021-29 adopting the FY 2020-21 budget and setting the business-paid parking tax for the Downtown Parking District?
RECOMMENDATION:
recommendation
Adopt Resolution No. 2021-29 (Attachment 1) adopting the FY 2021-22 budget and setting the business-paid parking tax for the Downtown Parking District.
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FACTS AND FINDINGS:
For FY 2021-22, annual parking tax rates proposed (no change from previous year):
Current Rate Minimum Tax: $442.16
Proposed Rate Minimum Tax: $442.16
Current Per Space Rate: $159.28
Proposed Per Space Rate: $159.28
Based on the current list of downtown businesses, the current total parking demand is 3,680 spaces.
The proposed operating budget is shown in Exhibit A of Resolution No. 2021-29 (Attachment 2).
BACKGROUND:
In October 2013, Council adopted Initiative Petition 001-2013-IP, which capped annual increases to the downtown parking rate at the lesser of 2% or the general consumer price index (CPI) for Portland, Oregon. Portland’s CPI for the last twelve months has been 4.7%. The maximum amount parking tax rates can increase is 2.0%. There is no increase proposed due to ongoing pandemic recovery by the business sector.
Michael Brown
Financial Services Manager
Attachments:
1. Resolution 2021-29
2. Exhibit A